Identify the outgoing that could not appear in the income statement.
A) interest paid
B) purchase of flowers for the waiting room
C) wages and salaries
D) repayment of loan

Question

Quizplus · Accepted Answer

Repayment of loan is not an expense related to the operations of a business and therefore does not appear on the income statement. It is a financing activity, affecting the balance sheet and cash flow statement.

Identify the Outgoing That Could Not Appear in the Income